Kansai Electric Power will begin surveys for the construction of a new nuclear power reactor at its Mihama power station in Fukui prefecture, western Japan, to replace the existing facility, the company said on Tuesday.

By Satoshi Sugiyama and Leika Kihara TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba plans to announce his resignation by the end of next month, the Mainichi newspaper reported on Wednesday. Ishiba is facing growing opposition from within his Liberal Democratic Party for his vow to stay in power despite the ruling coalition's bruising defeat in Sunday's upper house election.

Shares of Japanese automakers surged after U.S. auto tariffs were reportedly lowered to 15% from the current 25%, according to public broadcaster NHK, citing a Japanese official. Stocks of Japan's Honda jumped 8.42%, while Toyota climbed 9.97%. Nissan jumped over 7%, and Mazda Motor surged over 16%. Mitsubishi Motors popped over 12%.

President Donald Trump said the US and Japan are close to a deal to jointly export liquefied natural gas from Alaska, a potential boost for a long-delayed project that’s struggled to gain traction.

Japanese Prime Minister Shigeru Ishiba will announce his resignation by the end of next month, Japanese media reported on Wednesday, following a bruising election defeat that cost his administration its upper house majority.

Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.

Japan’s automakers have begun hiking loan rates as a historic central bank pivot to unwind three decades of ultra-loose monetary policy trickles down to consumers, raising household credit costs.

Japan's election outcome may put the central bank in a double bind as prospects of big spending could keep inflation elevated while potentially prolonged political paralysis and a global trade war provide compelling reasons to go slow on rate hikes.